List-A gives concepts and List-B gives the names of the growth models : List-A List-B A. Learning by…
The correct match is "A-F, B-E, C-D". Kenneth Arrow's (1962) growth model is built around "Learning by doing" (A-F), Mervyn King and Mark Robson's (1989) endogenous growth…
Choose your answer
List-A gives concepts and List-B gives the names of the growth models :
| List-A | List-B |
|---|---|
| A. Learning by doing | D. P.M. Romer model |
| B. Learning by watching | E. King-Robson model |
| C. Learning by investment | F. Arrow model |
Choose the correct match of List-A and List-B :
Answer and explanation
Correct answer C
The correct match is "A-F, B-E, C-D". Kenneth Arrow's (1962) growth model is built around "Learning by doing" (A-F), Mervyn King and Mark Robson's (1989) endogenous growth model incorporates demonstration externalities through "Learning by watching" (B-E), and Paul M. Romer's (1986) endogenous growth model models knowledge accumulation and spillovers generated by "Learning by investment" (C-D).
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RPSC Assistant Professor (College Education)